Technology’s impact on P&C insurance in 2019

The digital revolution has arrived and insurance carriers who ignore it do so at their own peril.

By Jeff Wargin|February 04, 2019 at 12:00 AM

X

Share with Email

sending now...

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Consumers are looking for a personalized experience, especially when purchasing something as important as P&C insurance. (Photo: Shutterstock)

When most people think about cutting-edge innovation, insurance isn’t typically the first industry that comes to mind. But as we’ve seen in recent years, that mindset is changing. Despite public perception of the insurance industry as a late adopter of technology, many large incumbents are now undertaking major digital transformation projects, and the industry in general is rapidly becoming more nimble and innovative. We’re also seeing new InsurTech startups specializing in AI, IoT, and more, identifying openings within the industry and seeking partnerships with carriers to bring new products to market, improve customer experiences, and enable better use of an ever-increasing volume of data.